Best stocks, crypto and ETFs to watch this week – GME, Dogecoin and Invesco Solar ETF in the spotlight

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Gamestop Corp. (GME) filed a disclosure with the SEC after Friday’s close, noting the departure of COO Jenna Owens after just eight months on the job. Owens, a former Amazon.com Inc. (AMZN) and Alphabet Inc. (GOOG) executive, was hired in March as part of GME’s high-profile “digital transformation”. However, the company has provided few details on the initiative since then and its departure can be seen as a setback, encouraging shareholders to step down.

Investors have lost patience with Uber Technologies Inc. (UBER) after the sharp rise in 2020, contributing to a 14% loss since the start of the year. Driver shortages, escalating carpool fees, government feuds and stiff competition for food delivery may have taken their toll in the third quarter, increasing the chances of an aggressive backlash to “sell the news.” After Thursday’s post-close report, when UBER is is expected to post a loss of 16 cents a share.

Dogecoin (DOGE) exited from a deep base pattern at 16 cents in August, hitting 35 cents a few weeks later. It posted a lower high in September and rebounded again, nearly completing a 100% retracement in the previous peak on Thursday. The coin has retreated since then, but strong support around 25 cents should ease the selling pressure, creating a potential buying push that could complement a breakout pattern of the cup and grip, with an upside target. just over 50 cents.

Watch Invesco Solar ETF (TAN) on Wednesday, as passage of President Biden’s massive infrastructure bill may hinge on Tuesday’s hotly contested gubernatorial election in Virginia. The sector has been moving in tandem with acrimonious trading for several months now, rallying 31% in the last 19 trading days. A Republican victory can be seen as a mandate against big government spending, potentially shifting moderate Democratic votes to the “no” column.

Ford Motor Co. (F) has joined the electric vehicle bandwagon this year, announcing a series of initiatives to compete with better-placed rivals Tesla Inc. (TSLA) and General Motors Co. (GM). The automaker beat third-quarter expectations and raised its guidance for 2021 last week, adding to a slight increase that posted an impressive cumulative return of 94% in 2021. However, the stock is now approaching the resistance going back to 2011, increasing the chances of a reversal and downside that could last for weeks or months.

The story continues

For an overview of this week’s economic events, check out our economic calendar.

Disclosure: The author did not hold any position in the above titles at the time of publication.

This article originally appeared on FX Empire

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